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on "the willis report", republicans split on their debt ceiling stances? we have against the weight on what is really going on. and earnings season is in full swing. our expert is here to share the financial sea of hot on right now. and in hard times, what industry has thrived? even the wealthy are flocking in. the star of on stars, richardson is here to discuss how you can cash in. we are on the case next on "the we are on the case next on "the willis what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's the same as walking a professional golf course. humana. health and well-being partner of the pga tour. stay top of mind with customers? from deals that bring them in with an o
of the show. >> coming up on "the willis report", republicans split on their debt ceiling stances? we have against the weight on what is really going on. and earnings season is in full swing. our expert is here to share the financial sea of hot on right now. and in hard times, what industry has thrived? even the wealthy are flocking in. the star of on stars, richardson is here to discuss how you can cash in. we are on the case next on "the willis report." ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. gerri: there is definitely a debt ceiling looming
this out. i just want the squabbling to stop. this is worst than the fiscal squabbling and the debt ceiling. you know why? the stakes are higher. we're talking human lives. those little baby angels. let's try in their memory to figure something out if stead of hurling epithat's and talking about impeaching the president and imperial presidency and all this crap. tonight i hope we'll do that. we have the president of the naacp, we have nationally syndicated lars larson and congresswoman nan hayward. i'm not opposed to types this bill. cheap shots squabbling is wrong. this is a national tragedy. we need to do something about it. ben, may i begin with you. >> sure. >> what is your position on the president's view and do you believe that if he got what he wants, it would have stopped the awful heinous tragedy at sandy hook in newtown, connecticut which is right next door to where i live? >> we're very supportive of a whole lot that's in this bill. and it's clear that this would have made it harder to get these sorts of guns in the first place, harder to buy the high capacity clips, harder for a
a new plan to eliminate the debt ceiling, claiming the gop is exploiting the issue for political gain. doug mckelway is live in washington with more on the democratic plan and the road ahead. hi, doug. >> reporter: hi, jenna. this democratic plan in a nutshell would basically do away with the statute that calls for the debt ceiling in the first place, allowing spending in effect to go up and up and up without the artificial cap that the debt ceiling is indeed. democrats are explaining this in a press conference right now as we speak, so we'll be learning a lot more about it as the day progresses. republicans obviously deeply opposed to this thing, fearful that democrats will indeed use it to allow spending to go up and up. here is senator john barrasso speaking on fox news this morning. >> we have a spending problem in this country. people all across the country know it. they know it in wyoming. families have to balance their budget every year. many states do. we do in wyoming. it is time for the senate and the house and the president to get serious about limiting our spending and spe
because the debt ceiling concern and talks, it's been pretty much nonexistent on the industrial -- >> the markets at fresh five-year highs. >> yeah. it's all because we had the fiscal cliff. and it was so volatile coming into it. we saw some massive swings and massive breakdowns coming into it. it seemed like the market was all over the place. with the debt ceiling, everyone thinks they'll kick the can, raise the debt ceiling up, or get resolved within -- >> that mean the market's at risk? it would seem yes, right? >> see, if you -- my opinion of what will happen is if there's any small breakdown in it, you know, if there's threats that they may downgrade the s&p, whatever, we'll see a breakdown in s&p down to like 14.50, 14.40. but there are so many people waiting on the sidelines, so much cash. and people looking at u.s. equities over the safety play. they'll start coming in, they'll buy. it i think it's going to be a good year for the s&p this year. >> what does earnings season do? hearing from jpmorgan and goldman sachs, the financials have been a driver of major averages mo
fighting and hammer out a strategy to deal with the looming debt ceiling. melissa: chaos in algeria, the fate of dozens of hostages is unknown. some reportedly have escaped. fox news middle east analyst and lou dobbs will weigh in. first, time for stocks, let's check with the floor the new york stock exchange, nicole petallides is standing by. the dow just awful session highs, but not having a bad day. nicole: not bad at all. up about 90 points off of the highs of the day. was yesterday a fluke? we had five days of gains, gave back a little bit yesterday and back in the green again. look at the nasdaq up more than half a percent. the s&p 500, gains across the board. economic news for labour numbers and those were good, housing starts have been on the move as well, that was well above expectations. let's take a look at some of the homebuilders in particular, which have had a great run recently. tilden permits at multiyear highs. ben willis yesterday talking about optimism. there is a look at lennar. to give an idea of how well the homebuilders have run up, to put together a chart wit
hiring. we may be looking at this debt ceiling, and i'm going to invoke shakespeare, the bard, that this may be much ado about nothing. i'm going there. right here. >> right now? the cliff is -- >> don't you love -- you know, when i first heard, i thought what a great title, i said no, moran, take the shakespeare course first the it's going to be claymation death match, maybe ufc, you and i watch that in our spare time -- not -- but i don't think it's as important as getting through the fiscal cliff. people are hiring again. >> dow transports continue to hit six-year highs. >> even as crude is up 95. >> it's like a market that has transport leadership. did you see union pacific? we had mike's southern on "mad money" he says point-blank, the hole has bottomed and is starting to go higher. and be good to the shutdowns, the coal plants. don't forget china has been burning coal, like you wouldn't believe. much more inventory reduction, because it is so cold. don't care maybe as much about the air. >> apparently not given what we've been hearing out of the beijing. >> can you see y
. it was enough. it got us through that period. then we said, well, we've got to two months until the debt ceiling. it's the 17th today and it just feels different. we're not -- we don't have a clock on cnbc showing the days to the debt ceiling when we hit it. it just seems like the market b is getting desensitized and we figure something -- it's not going to be the deal that we thought. is that true? do we know that, that it's not going to -- you know, derail this? >> my sense is, joe, you might be back to a clock in about a month. i think the one thing we learned from the fiscal cliff was don't really pay attention to anything that comes out of washington until "d" day. >> so that is what we're doing now. we're looking at individual results. >> and i think that's actually what people want. they want to trade in the market. the nice thing about you is you're talking about earnings, you're talking about things that matter to the market right now. everyone i talk to is saying i'll deal with the debt ceiling when i get there. actually, if there was a lot on worry there, we wouldn't be going, budding
. tdd#: 1-800-345-2550 >> $64 trillion and counting. the nation's debt ceiling. to cut to red, my next guest advocates more green when it comes to health care. the called the health reduction. she said there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this would be completely by choice -- for people who don't want to pick this public option, among the private sector choices within a health exchange, and rates for premiums are estimated to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush's plan, you were critic
. >>> onto the debt ceiling. the deadline approaching so it washington on the verge of killing an economy that many people think is actually experiencing a very nice little rebound? we're going to ask loan ceo jim tisch when "power lunch" returns. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> four days before the inauguration the latest nbc wall street journal poll is out with the breaking news. john harwood in washington. john? >> tyler, we've just got one question. the full poll comes out tonight but this shows you some of the difficulty president obama is going to face with this gun control issue he's pursuing. look at the public image of the national rifle association. it shows you it's a pretty tough target. at three different decision points after tragedies, columbine they had a net negative rating. at the giffords shooting it was better in early 2011
the table for now. obviously things like the debt ceiling and the dysfunction in washington are reasons for concern, but i think one of the factors that's underpinning the equity market is the fact that bonds rates, u.s. interest rates, it's a tired story and folks are getting very frustrated fighting bernanke. >> gordon, let me ask you what you're seeing in terms of flow. first of all, what happened at the end of the day here? i turn my eyes away from the ticker for a moment, and the market is up 53 points. what was the flow at the end of the day, and would you go into next week holding technology? is that another weak spot, do you think, next week as stephanie just pointed out that a lot of industrial names, the real economy stories, are going to start driving things? >> well, maybe. they were buying beamary little bit and beamer reports next week, too. you can't turn your head for a minute in this market. washington puts out a little blush they will start cooperating with each other, that seems to be a little bit of a catalyst. kind of gave us anni impetus foa bust. if you go back tw
are huddling in southern virginia. to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior political analyst. brit hume. good evening. >> hi, bret. >> the house republicans are not wrong to seek spending cut to allow borrowing by a treasury more than $16 trillion in debt. but in politics it's not enough to be right. you need to be effective. it requires recognition that politics is a team sport and being united is critical. this is true if the party controls one house of congress and the other party not only has the other one but the white house as well. consider what happened in the recent fiscal cliff end game. taxes were set to go up by law on january 1. some house republ
pay that for us? that would be helpful. democrats say they think we should get rid of the debt ceiling all together because it is difficult to bum up against that. art laffer with thoughts on that. bill: will have a lot of thoughts. the nra responds in turn and the group's president will be here live for us this morning. >> we will nullify anything the president does that smacks of legislation. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. martha: so it is thursday. that means we get brand new jobs numbers from the labor department. the number of americans seeking unemployment benefits fell by 37,000 last week. that is a seasonally adjusted number of 335,000 for unemployment. that is the lowest level since january of 2008, just before the recession began but this seemingly sharp improvement in the labor market may be a little bit misled leading. jobless numbers in january can be erratic. employers re
what is happening here with the debt ceiling and u.s. economy but others say this is really just a lot of collectors simply wanting more coins. we are also looking at where silver plays in terms of other metals this weekend and as you can see it is clearly the winter. and it is posting the best week its nd two months time. back to you. >> thank you, sharon. >>> relatively flat on the major market indeces. >> we are positive for the week. >> you would think that stocks would be worried about the debt ceiling and yet we had word that gop controlled house might have a deal. might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think th
to me, hey, jim, what is cnbc going to do after they solve the debt ceiling? you panicked on the election. >> we'll try something. >> the country, the republic is in repeated crisis. you have a president saying -- he said, okay, what happens if the president doesn't have a crisis after the debt ceiling? what are you going to do if he says, listen, we're just going to go back to being like washington? that was interesting. >> we can talk about fundamentals. the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just -- there's housing, sales of pickups. sales of cars in europe for 2012, not so good. we'll talk about that. >> germany, the bmw sales, volkswagen sales. one of my cousins in mex
are playing their version of let's make a deal over the debt ceiling. tomorrow the republican-controlled house expected to vote on a bill allowing the government to borrow money through may 18th. but they want something in return. chief congressional correspondent mike emanuel live in washington with the details. what is the latest? >> reporter: as part of raising the debt ceiling the house republicans will demand that the senate pass a budget with spending cuts included and will try to force getting it done by april 15th. a short time ago the top senate republican issued this call to action. >> and so it's my hope that the president will finally be willing to do what republicans have been asking him to do since his first inauguration four years ago and that is to work with us on identifying durable solutions to the problems that we can only solve together. to put aside those things we know we can't agree on and focus on what we can agree on. and we should start with spending and debt. because if we don't get a handle on that nothing else matters. >> reporter: bottom line republicans recognize
the front page. all we talked about. >> that's true. >> now the debt ceiling and then it's sequester and the continuing resolution. we go from this cliff to that cliff, and we don't deal with the problem. if we deal with the problem, there's so many assets in america. we can grow our way out of this. >> let me ask you about getting out of a problem and for many it's regular laying. after the 2008 upset, the banking sector has faced much higher regulation. things are changing quite a bit. we're no longer riding a wave of deregulation, quite the opposite. talk to us about the regulatory environment and how you see it. >> clearly regulations increased. we have dodd/frank with, you know, thousands of pages. let's be honest about it. there were some bad actors prior to 2008. i'm all in favor of good solid regulation with regulators who have real teeth and can make things happen. what i don't want to have happen is excessive regulation that stands in the way of us serving our customers. i mean -- >> what's excess? what's one rule that you think is excess? >> i don't know what it's going to
. think debt ceiling when we return. [ male announcer ] this is not my home. there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and still, i feel at home. could it be the flat screen tv? the not so mini fridge? ♪ the different free dinner almost every weeknight? or maybe, it's all of the above. and all the rest. am i home? nope. but it almost feels that way. homewood suites by hilton. be at home. >>> welcome back, everybody. the s&p is indicated slightly down as the is dow jones. the nasdaq is staying higher. we did hear from dupont which came in with better than expected numbers and ta dow component is up by 1% at this point? >> if you split the bid and the ask, it would be. >> 1.4% from the free market. >> our headlines this morning, a tropical storm intense fieging off of australia's coast. it's bringing nearly half the world's iron ore trade to a halt today. right now, let's get today's national forecast. reynolds wolf joins us from the weather channel. reynolds, it's great to see you this morning. >> great seeing you guys, too. the story down unde
the government running. they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says tha
. the debt ceiling debate is in the spotlight. as kyla campbell reports there's an important meeting planned today and a vote planned for tomorrow. >> reporter: mike thompson is part of a house committee holding a meeting today on the debt ceiling. they are taking a look at how the past has voted to raise the limit. the committee is examining the constitution to see if it provides options for the president when the deal is reached. tomorrow, the house will vote on increasing the debt ceiling so the u.s. can pay its bills through may. if congress approves, pressure falls on senate democrats to pass their first budget in four years. without one there could be a partial government shut down at the end of march. congressman mike honda is making a pitch. i will explain his proposal when i see you next. back to you. >> thank you. >>> great economic news just coming in right now. u.s. home sales rose to a five- year high last year. that should bode well for the markets. dow jones is down a little bit. right now, the nasdaq also down, but the s&p s&p, posting a little bit of a -- but the s&p posting
in the politics of that. he has fights around the debt ceiling coming up and to make this the issue, how do you think that will work? >> that's why i wonder how serious he is. i'm not questioning his motives. now he knows for the next two months all we're going to be talking about is the debt ceiling, sequestration, the continuing resolution, ending the fiscal cliff, all of these. >> you're not questioning his motives of what he's suggesting. he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant legislation. >> congressman king in the studio after my asking all the time. >> i couldn't stay away from you, soledad. >> she's not really a tough interviewer is she? >> she
the relief for hurricane sandy victims. and house democrats want to get rid of the federal debt ceiling. they are pushing legislation to repeal the limit accusing the republicans of using it to blackmail the country. the treasury officials say they will run out of borrowing power as soon as mid-february. each day that passes brings us closer to massive automatic spending cuts to dramatically affect the u.s. military and defense industry. tonight, jonathan serrie reports on the damage done to north carolina. >> fact. miles from fort bragg, k-2 solutions train dog for police and military use. but the status of new defense contracts is unclear for this company that employs 274. >> in the past seven months we submitted eight proposals, two have been canceled and the other ones are in limbo for up to eight months. >> the problem is sequestration. they have not the uncertainty. >> this compounded the problem. right now, nobody is moving forward on any projects. it has created a stand-still. >> ceo of our row rora marketing -- aurora with facial recognition technology. >> it used to be working
that the united states could lose its top credit ceiling if the debt ceiling is not raised. timothy geithner has warned congress they'll reach that limit as early as next month. >>> asian markets plummetled ahead of key economic data. it plummeted more than 2.5% while hong kong's hang sang lost a fraction. >>> stocks ended mixed on wall street over the uncertainty of the nation's debt limit. the dow finished the day up more than 27 points while the nasdaq fell nearly 7 points. >>> shoppers spent more this holiday season than last but not as much as experts predicted. sales rose 3%, falling short of the national retail federation's forecast of 4.1%. many stores heavily marked down merchandise in the final shopping days to lure in shoppers who held back on spending. still, retailers hauled $580 million in november and december. >>> walmart says it will buy u.s.-made goods over the next decade. the retail giant is also pledging to offer a job to any honorably discharged american veteran within a year of active duty. walmart expects to hire a thousand veterans in the next five
, and what's on the agenda is devising some sort of house bill that would raise the debt ceiling and pair it with entitlement or other spending cuts. you know, there's differing theories about how long, you know, one or two years which is what the president talked about. we've heard a couple of months, we've heard four years. you know, but there's sort of a principle that they're using which is equal amount of deficit reduction for the amount the debt ceiling is raised. so if you're going to raise it by, you know, $3 or $4 trillion, we're talking about sort of massive reforms probably along the lines of the paul ryan budget which cut $5 trillion in spending. you'd see things like block granting of medicaid and food stamps and, you know, i don't think that they would put in what's called a voucher system or premium support system for medicare. that was, you know, pretty much trounced during the election. but we'll see. you need something with big numbers in order to -- [inaudible] more or less it's probably a smaller debt ceiling increase. and they also need to decide what to do about two
the fiscal position with the debt ceiling and spending negotiations still yet to really happen. and this is just another headwind that the economy seems to be having to face. with that in mind, you know, people are getting optimistic that we'll see a second half recovery. but that's almost in a way hope. there's nothing out there which really -- >> i've said it before, and i'll say it again, but i've heard the second half recovery issues every year. >> every year since the gfw. >> and to be honest with you, we're not seeing anything tangible out there which would indicate, yes, there's definitely going to be a second half pick up. we're expecting 2% growth this year overall. i think the risk is on the down side as opposed to the upside. >> how do you trade that? do you stay away from stocks? >> well, yes. at the moment in short-term, yes. we look at the economic growth potential pushing the rating up and with the corporate earnings still mixed, we think fundamentals are a little bit vulnerable. we think sentiment got quite bullish, which is normally a contrariry sign and we thi
. >> now congress will focus on the debt ceiling and immigration reform. >> the first family will attend a prayer service at the national cathedral along with the vice-president. congress returns to work. reporting in washington d.c. i'm renee marsh. >> one of the issues will be dealing with a rock. 17 people have been killed and others wounded in iraq in northern bad debt. seven people were killed and six were wounded-a-in northern bad and babaghdad. >> erica will have a complete check on your forecast in minutes. >> we are back. taking a quick look at the market this morning. >> wall street was closed yesterday in honor of martin luther king jr. day. but futures trading shows both the dowel and the nasdaq in the negative while the s&p five what is in positive territory this morning. will be watching the stock market all morning long here on the kron 4 morning news. >> this week investors will be focused on the technology sector. a number of tech giants are set to report earnings today including google , ibm and verizon. >> a report on existing home sales is also expected today. apple i
its top credit rating. the debt ceiling is still causing ago any. according to the fed's latest snapshot, some businesses are saying, we're not going to hire. >>> our fourth story out front. the american hostages in algeria. defense secretary, leon panetta, today, quick to call it a terrorist attack as he is traveling in europe. the interior minister says they are angry for the french offensive in mali. they attacked an oil field killing two and seizing a number of hostages. we have been working this story throughout the day. the exact number of u.s. hostages is unclear perhaps as few as three americans are being held. earlier in the day, we had heard it would be as many as seven. it is unclear if the number is wrong or some were able to escape. what are the latest reports there on the hostage situation? >> reporter: as you said, erin, we are still hearing conflicting reports about the number of hostages still being held. we are seeking confirmation from the british prime minister's office as to whether one of those hostages they have claimed to have killed was, indeed, british.
of the upcoming debt ceiling and laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand.
to speak to president obama about the debt ceiling and possible default. president obama says the same about him. there's not just a difference about this, all the money, pomp and circumstances, people don't feel like celebrating. there's a weariness and it's bipartisan but people do it bass it's one of our rituals that demands we come together and show the world we are the greatest democracy and we are unified in these moments for a reason. >> so, it's happy face for a day. >> you mentioned his first inaugural with all the soaring rhetoric and the promises of hope and aspirations, going to transcend the petty partisanship , usher in transparency, remake politics. arguably it didn't happen. what really can he say? >> it's going to be very difficult for him to come up with an address that really changes people's opinion about the state we're in or the direction of his second term. it's going to be hard to inspire. he'll probably go long. i don't think re'll follow abraham lincoln and just use 705 words, but he'll take credit, certainly, for some of the things he has done but it's going
dive on policy, whether it be gun control, immigration reform, the debt ceiling debate. tomorrow's broad scene. his senior advisor will talk about bringing the country together. republicans are saying the early signals they've seen from the president at the start of the second term suggest pretty much more of the same. take a listen. >> he's going to talk about our political system doesn't require us to resolve all our disputes our political differences but it does require us to seek common ground. he will make that point very strongly, that people here in washington need to seek common ground. >> i was surprised this week to see him transition his campaign committee into an ongoing campaign style effort to have an impact on the washington debate because it doesn't seem to me that the lessons of the first term would be that that worked out very well. >> now, interesting. the vice-president, joe biden, was sworn in several hours before the president over at his official residence. we're told that's because he was sworn in by justice sonia sotomayor. she needed to get to a book sig
in congress. >> the focus shifts to pressing issues including the debt ceiling, gun- control, an immigration reform. however, today both the president and first lady along with a bite and will attend the national prayer service at the national cathedral. the white house will hold a press briefing today and just as congress returns to work. >> we will be back but with more on the kron 4 morning oh! progress-oh! -oh! -oh! oh! oh! ♪ what do you know? oh! ♪ bacon? -oh! -oh! oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your story for a chance to win a progress-oh! makeover in hollywood. go to facebook.com/progresso >> welcome back to the kron 4 morning news. new this morning a fire continued burning overnight at beale air force base hours after its bark. this is new video just in to kron 4. the base is an hour north of sacramento. the fire broke out around 230 yesterday afternoon at the civil engineering scosquadron building in the main base area. the two-story building that dates back to
and on the agenda a possible proposal that would link raising the debt ceiling in exchange for delaying implementation of the affordable care act. the national rifle association is planning president obama's gun-control proposals. david keene earlier on "varney and company". you have a president who is dedicated to achieving an ideological agenda, is willing to spend political capital to fight a fight against -- against public feeling and public attitudes that have been in place for many years and to fight in spite of constitutional safeguards for those attitudes you have a real battle royal. >> the international big committee stripping lance armstrong of its 2000 bronze medal, his interview with oprah winfrey will begin airing tonight. those your latest headlines. we will have more. dennis: thank you. housing starts for december surging to a four year high. another clue for the fragile housing recovery. made in the grass joins me with how to play. a lot of stocks are up 80% to 100% in the past year. is it too late? >> most of the upside is there. if you are looking for another big 80%
run out of money to pay its bills by the end of february if that debt ceiling isn't raised. congress is preparing to debate it, but it could be a politically charged battle. >>> all right. a big political comeback getting underway today. you might remember former south carolina governor mark sanford. well, back in 2009 he admitted to having an affair with a woman from argentina, who is now his fiance. he announced he's running for his old congressional seat. >>> all right. and you don't hear a story like this often. it comes to us from the suburbs of stockholm, sweden. that's where a cleaning lady stole an empty commuter train and drove it into an apartment building. >> she was at the controls for about a mile. then the train derailed before hitting the building. the woman was seriously injured. she was the only person hurt. i guess she was the only one on the train. >> not good. what were you thinking? >> i wonder why she did that. >> i don't know. >> we need more information on that one. >> yeah, we do. >>> let's talk about our wednesday weather. heavy rain from the gulf coast into
and file about a short-term extension of the nation's debt ceiling. it might be brief, authorization the nation's borrowing authority for a couple of months at the republican retreat in williamsburg, virginia right now. the house budget committee chairman, paul ryan says it might offer a better chance of getting the democratic-controlled senate and white house involved in talks without a deal by march. drastic spending cuts could kick in and the government could face a possible shutdown. there seems to be kate a little movement on that. we'll see how far it goes. >> when they all get back. >>> a key part of every u.s. president's swearing in is of course the bible that he has placed, that he places his hand on when placing the oath of office. cnn's lisa sylvester had a pretty rare look and was able to actually look and touch the bible. >> touched it yourself. >> i've got to say, this was a pretty cool assignment. >> it's very unique and a really neat part of the inauguration. >> this is something that i learned. the library of congress actually has 1,500 bibles in i
to an unusual ground. debt ceiling, gun control, fiscal cliff. but then a reporter asked about the criticism that the president is too insular, doesn't socialize enough. >> most people who know me know i'm a pretty friendly guy. and i like a good party. >> there's sometimes a disconnect with some people. anybody who gets to know president obama, finds him to be just like a normal and fun. >> reporter: presidential historian and cbs news consultant douglas brinkley says there's a reason the president hasn't connected with congress. >> things have changed in washington. characters like ted kennedy who used to be able to be friends with the opposition are gone. he just hasn't been able to find that special bond like ronald reagan had with tip o'neill on capitol hill. >> reporter: the president reminded reporters on monday he did play a friendly round of golf with house speaker john boehner in 2011. >> i like speaker boehner personally. when we went out and played golf, we had a great time. >> reporter: but mr. obama was quick to add it didn't help to solve the budget imp
to that solution, that idea, you could -- you would find that we could work out the debt ceiling. we could put all this drama and theater aside. but anyone who thinks we don't ever need to balance our budget, i think has disqualified themselves from a discussion here. >> we will certainly continue that discussion even though we didn't talk about it that much this morning, moving forward. i think you and i certainly on that issue probably agree much on just about everything. thank you so much, jim demint. we greatly appreciate you being here. >> thanks, joe. >> i've got to say, tom, it is fascinating to me, disturbing, but fascinating how it's hard to find a senator that says, you know what? i love my job. i feel like i'm really accomplishing something. i get such depressing reports from inside the senate. and i know you do, too. >> i do. almost every senator i talk to just is enormously frustrated. a lot of them like demint are leaving. olympia snowe left because she felt she couldn't get anything done. she'll be replaced by angus king, an independent from maine. when she was leaving i thought to
battle over the debt ceiling. >> mary thompson, thank you. >>> one of television's favorite fathers has died. conrad bains played the father on "different strokes." a veteran stage actor, he rose to fame in middle age with the long-running family sitcom. he was 89 years old. a big hit here on nbc. 7:19 right now. back over to matt, savannah and al. >> must-see tv. >> exactly. >>> mr. roker is here. >> a big storm going on down south. live to pearl, mississippi. you can see the snow already on the ground and more on the way. as we take a look and show you what's happening. here is the latest. we have winter storm warnings. winter weather advisories, stretching all the way from jackson, mississippi, to southern new jersey. storm system a fast mover. and a ton of snow. and from the west to the east. it will dump a lot of rain. snowfall amounts, some areas picking up 6 to 12 inches of snow and rainfall to the south of it. anywhere from 3 to 5 inches of rain. that's your latest weather. we'll get your local forecast, right after this. t right after this. ♪ ♪ ♪ ♪ [ female announcer ]
the fiscal cliff and the looming battle over the debt ceiling. back to you. >> mary thompson at the new york stock exchange. thank you. >>> one of television's favorite fathers has died. conrad bain played phillip drummond on "different strokes," the adopted father of two african-american brothers, played by todd bridges and gary coleman a veteran stage actor, bain rose to fame in middle age with the long-.-running family sitcom. conrad bain was 89 years old. a big hit here on nbc. 7:19 now. back to matt, savannah and al. >> must see tv. >> definitely. >> thanks, matt. >> thanks very much. mr. roker is here. >> a big storm is down south. let's go live now to pearl, mississippi, you can see the snow is already on the ground. they have got more on the way. as we take a look and show you what's happening, here is the latest. we have got winter storm warning, winter weather advisories stretching all the way from jackson, mississippi, just into southern new jersey. storm system's a fast mover but it is going to dump a ton snow east. it will dump a lot of rain. look at some of these snowfall amoun
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